Benzyl Alcohol Market Size: Competitive Landscape and Recent Industry Development Analysis 2024 to 2034
According to the latest analysis, the global benzyl alcohol market is estimated to be valued
at US$ 38.3 million in 2024 and will likely total US$
69.4 million by 2034. Global benzyl alcohol demand is anticipated to
rise at a CAGR of 6.0% throughout the forecast period.
The benzyl alcohol industry is set to experience steady
growth during the forecast period, driven by several key factors. These include
widening applications of benzyl alcohol across diverse sectors, including food
& beverage, pharmaceutical, paints, and personal care.
Benzyl alcohol finds applications across various industries.
One of the primary drivers of its growth is its widespread use as a solvent in
the formulation of numerous pharmaceutical products.
Benzyl alcohol is increasingly used in several
pharmaceutical formulations. This is due to its effectiveness as a solvent for
a wide range of substances, low toxicity, and favorable safety profile.
The versatility of benzyl alcohol extends to its use as a
precursor in the synthesis of various chemicals and polymers. It serves as a
building block in producing numerous derivatives used in applications ranging
from paints and coatings to adhesives and plastics.
The expanding industrial sector, particularly in emerging
economies, is set to further fuel demand for benzyl alcohol as a key raw
material in manufacturing processes. Similarly, the growing adoption of benzyl
alcohol as a preservative in food products, cosmetics, and personal care items
to extend their shelf life will likely fuel sales.
Information Source:
https://www.futuremarketinsights.com/reports/benzyl-alcohol-market
Key Takeaways from the Report:
- The
global benzyl alcohol market value is expected to total US$
69.4 million by 2034.
- Based
on application, the food & beverage segment is set to rise steadily
through 2034.
- China
is poised to record a CAGR of 6.7% from 2024 to 2034.
- The
United States market size is set to reach US$ 22.4 million in
2034.
- Benzyl
alcohol demand in India is anticipated to rise at 8.2% CAGR through
2034.
“Extensive applications of benzyl alcohol as a
preservative and solvent across diverse industries, including food &
beverage and paints & coatings, is expected to boost sales growth during
the next ten years.” – says Nandini Roy Choudhury, Client
Partner at Future Market Insights
Competitive Landscape
Key players are focusing on increasing their production
capacities to meet growing demand for the industrial sector. They are forming
partnerships and strategic alliances with end-use industries to boost their
revenue.
Key Companies Profiled
- Lanxess
AG
- Elan
Chemical Company Inc.
- Hubei
Greenhome Fine Chemical Co., Ltd.
- Pharmco-AAPER
- Wuhan
Youji Industries Co., Ltd.
- Synerzine
Inc.
- Merck
KGaA
- Emerald
Performance Materials
- Avantor,
Inc.
- Fine
Chemicals
- Ineos
Recent Development:
- In
2023, LANXESS doubled its high-purity benzyl alcohol
production at its site in Kalama, Wash., to support the growth of its
customer base in North America.
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides
an unbiased analysis of the global benzyl alcohol market, presenting historical
demand data (2019 to 2023) and forecast statistics for the period from 2024 to
2034.
The study incorporates compelling insights on the benzyl
alcohol industry based on grade (industrial grade, food grade, and
pharmaceuticals grade), end-use (food & beverages, paints & coatings,
pharmaceuticals, and others), application (cleaning agent, synthetic solvent,
epoxy resins, bacteriostatic preservatives, dielectric solvent, and others),
and region.
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